Personal / Entertainment Use Treatment

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Personal / Entertainment Use Treatment 2017-06-13T02:14:02+00:00

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If you have a business aircraft for which you claim business expenses, the IRS and SEC will be interested in the reason for each leg of each of the trips made by that business jet. Carriere & Little can help you understand the “Three Buckets” of corporate aircraft use: Business Use, Personal Use, and Personal Entertainment Use. These Three Buckets are key to properly reporting mixed personal and business use of company-owned business aircraft. The aviation business attorneys can help you set up processes that will support the proper classification of each flight leg and the documentation necessary to support the classifications so you will not run afoul of IRS regulations or find your public company in trouble with the SEC.